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External shocks, trade margins, and macroeconomic dynamics
D'Addona, Stefano; Cavallari, Lilia - In: Economies : open access journal 8 (2020) 1/6, pp. 1-26
This paper studies the role of the exchange rate regime for trade of new products. It first provides VAR evidence that a rise in external productivity shifts trade away from new products and more so in fixed regimes. Then, it presents a model with firm dynamics in line with this evidence. We...
Persistent link: https://www.econbiz.de/10012168776
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Oil Price Shocks and Monetary Policy in a Data-Rich Environment
Aastveit, Knut Are - 2013
This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for the interaction between the oil market and the...
Persistent link: https://www.econbiz.de/10013081472
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An anatomy of external shocks in the Andean region
Carrillo-Maldonado, Paul; Díaz Cassou, Javier - 2019
the effects of the shocks, which we attribute to differences in the shock-absorbing capacity of their macroeconomic …
Persistent link: https://www.econbiz.de/10012117480
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Understanding the global drivers of inflation : how important are oil prices?
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2023
This paper examines the global drivers of inflation in 55 countries over the 1970-2022 period. We estimate a Factor-Augmented Vector Autoregression model for each country and assess the importance of several global (demand, supply, and oil price) and domestic shocks. We report three main...
Persistent link: https://www.econbiz.de/10013488859
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Global oil price swings : has their effect on Malta changed over time?
Ruisi, Germano - 2023
international to domestic energy prices decreases from 1% to virtually zero in response to a shock rising real oil prices by 10 …
Persistent link: https://www.econbiz.de/10014380679
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The influence of global financial liquidity on the Indonesian economy : dynamic analysis with threshold VAR
Ekananda, Mahjus; Suryanto, Tulus - In: Economies : open access journal 9 (2021) 4, pp. 1-20
global contagion literature on Indonesia's economy focuses only on the effects of real shock (on output) due to financial … shock. We assert that the effect of global output on Indonesia macroeconomic conditions is a fairly relevant issue to be … in differences in Indonesia's economic responses due to the shock of world economic variables. The findings generated by …
Persistent link: https://www.econbiz.de/10012799838
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Macroeconomic uncertainty and the impact of oil shocks
Van Robays, Ine - 2012
This paper evaluates whether macroeconomic uncertainty changes the impact of oil shocks on the oil price. Using a structural threshold VAR model, we endogenously identify different regimes of uncertainty in which we estimate the effects of oil demand and supply shocks. The results show that...
Persistent link: https://www.econbiz.de/10009621702
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The Importance of Global Shocks for National Policy Makers - Rising Challenges for Central Banks
Belke, Ansgar Hubertus - 2009
economies. However, some other shocks such as originating from house prices,GDP, technology and long-term interest rates play a …
Persistent link: https://www.econbiz.de/10013155344
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Inflation during the pandemic: what happened? what is next?
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2021
We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR) model. We report three main results. First, the decline...
Persistent link: https://www.econbiz.de/10012584054
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Oil Price Fluctuations and it Impact on Economic Growth : A DSGE Approach
Bondzie, Eric - 2016
policy shocks (money supply-interest rate induced) on economic growth in Ghana. We realized that, a shock on interest rate … paradoxical effect of a negative interest rate on total money supply. We also showed that a positive output shock has the same … effect on consumption, investment, prices and wages as in the case of interest rate shock …
Persistent link: https://www.econbiz.de/10012999305